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Themes of Microeconomics
?? As per Mick Jagger & the Rolling Stones, “You can’t always get what you want”.
Why Not?
?? Restricted Resources
?? Infinite Wants
?? Allotment of limited Resources and Trade-offs
?? In a market economy
?? In a planned economy
?? Microeconomics and Optimal Trade-offs
1. Consumer Theory
2. Workers or labours
3. Theory of the Firm
?? Microeconomics and Prices
– The function of cost in a market economy
– How prices are calculated
Microeconomics vs. Macroeconomics
Microeconomics is the basis of macroeconomic analysis.
edge worthmodel
elasticity concept in policy formulation
Aska) Summarize the basic tenets of the arguments in thiscase b) Do you agree with main tenets of the arguments in the case? Why? Justify your answer with detailed explanations.
the meaning of supply
Comparison with Our Needs: We can further test our performance by juxtaposing it with our requirements. Admittedly, it is very difficult to determine 'needed' rate of growth w
The demand curve for gasoline is P = 200 - 10Q. a. Find the elasticity of demand for a quantity of 8. Does this number imply that quantity demanded is sensitive to price chan
how does compensated demand curve help managers?
Explain about the optimal consumption rule. The optimal consumption rule: While a consumer maximizes utility, the marginal utility per dollar spent should be similar for all
I need someone to do my quizzes it has 24 questions each. There are a total of 11 quizzes
In an industry with two firms, represent the outputs for these single product firms as q 1 and q 2 . The two firms decide to form a cartel and set their levels of output to maxim
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